Philip Morris International Raises Full-Year 2026 Adjusted EPS Guidance at Barclays Conference

Executive Summary

On September 8, 2026, Philip Morris International Inc. (NYSE: PM) submitted a Current Report on Form 8-K under Item 7.01 (Regulation FD Disclosure) in connection with a live audio webcast and presentation by CEO Jacek Olczak at the Barclays Global Consumer Conference.

Key Highlights & Guidance Updates

• FY 2026 Adjusted EPS Guidance Raised: Updated to $8.35 – $8.50 (representing 10.7% to 12.7% growth), reflecting a favorable currency impact of $0.24. Excluding currency, adjusted diluted EPS guidance remains at $8.11 – $8.26 (7.5% to 9.5% growth).
• Q3 2026 Adjusted EPS Forecast: Projected at $2.29 to $2.34, including a $0.01 favorable currency contribution.
• Smoke-Free Products (SFP) Performance:
  • IQOS: Broad-based growth continues; consumer offtake recovery in Japan is tracking in line with expectations, with October pricing confirmed.
  • ZYN & VEEV: Strong multicategory international expansion; expanding U.S. ZYN range and transitioning 3mg and 6mg dry variants to 20 pouches per can in Q4.
• Combustibles: Continued resilient operational performance, especially across markets with bans or limited availability of smoke-free alternatives.